Floyd County, Texas Property Taxes
Median Floyd County effective property tax rate: 2.66%, significantly higher than the national median of 1.02%.
Median Floyd County home value: $41,590
Median annual Floyd County tax bill: $983, $1,417 lower than the national median property tax bill of $2,400.
How are property taxes in Floyd County calculated?
Property taxes in Floyd County are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Floydada or another part of Floyd County, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Floyd County, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
2.66%
Estimate Property Tax Bill
$1,106
$1,027
Property Tax Rates Across Floyd County, Texas
Local government entities set tax rates, which can vary widely within a state. This is because each county estimates its required budget to provide essential services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the annual process in a nutshell.
In Floyd County, Texas, the effective property tax rate is notably higher than the national median property tax rate of 1.02%. The median property tax rate in Floyd County stands at 2.66%, which is significantly above the national average. Within the county, Lockney holds the highest median tax rate at 2.84%, while Floydada has the lowest at 2.62%. This disparity highlights the variation in tax rates even within a single county. Comparing these rates to the national median property tax bill of $2400, residents in Floyd County can expect to pay substantially more in property taxes.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Floyd County Tax Rate
2.66%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Texas Tax Rate
1.67%
Median Effective United States Tax Rate
1.02%
Property Tax Assessment Values Across Floyd County, Texas
When examining property taxes in Floyd County, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Floyd County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Floyd County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Floyd County. For example, the median tax bill in Floyd County is $936, with tax bills ranging significantly across the county. Floydada has the highest median home price at $42,025.
Median Floyd County Market Value
$41,590
Median Texas Market Value
$247,950
Median United States Market Value
$235,294
Property Tax Bills Across Floyd County, Texas
Median Floyd County Tax Bill
$983
Median Texas Tax Bill
$3,971
Median United States Tax Bill
$2,400